Raid on AKD Securities: Dhedhi to move court

Alleges agency is involved in conspiracy against his group

KARACHI: A senior member of the Karachi Stock Exchange and chairman of AKD Group Aqil Karim Dhedhi has decided to go to court against the FIA.

Addressing a press conference at Karachi Press Club he said, “strangely enough for the first time in history the FIA has registered a case on the basis of a research report.” He further alleged that FIA has become part of a conspiring gang, adding that the principal secretary to the prime minister is an important and active member of the gang. He also claimed to have facts and evidence which, if made public, would create a storm.



Dhedhi has claimed that the persons actually responsible for inflicting loss are roaming free and that the 20-year old record was scanned and while a single proof against him was not found, unjustifiable action is being taken against him.

He said that EOBI purchased shares for Rs19 each against his proposal of Rs9, but no action was being taken against those who purchased or sold the shares, which proves that there was a conspiracy and bias against him. He said a whole gang of cheats has become active against him and that it was against justice to arrest an honourable person on the basis of a report.

Dhedhi further stated that there were names of 40 persons in the research report but none of the others was taken into account while one-sided action was being taken against him. He said that the personal secretary to PM was influencing the stock market on the whims of his friend Jahangir Siddiqui.



He said that Director FIA Shahid Hayat has also involved himself in personal matters against the largest brokerage house of Pakistan because his friend Jahangir Siddiqui wants him to do so. He said that EOBI case has been prepared against Zafar Gondal and others but there is no role of the AKD Securities in it.

Dhedhi also revealed that officers of the AKD Securities were taken into custody by persons who claimed that they belonged to secret agencies. He said the whole process, including the FIR, was marred by lies. “A person from Lahore is directly involved in the fraud but he has not even been touched.”

“If the government wants to save the stock market, it should remove the disciples of Jahangir Siddiqui including Shahid Hayat,” Dhedhi said.



He said that Khurram Shehzad, who was involved, according to this report, is being spared and that he will accept the punishment if the crime is proved by someone.

He also claimed that a media house has opened a campaign based on lies against him.

TRANSLATION BY ARSHAD SHAHEEN

Published in The Express Tribune, January 5^th, 2016.